Skip to content
Mr. Loonie
Laurentian Bank Visa Reduced Rate

Laurentian Bank Visa Reduced Rate

6.6
Fair
Expert Score · 1 review How we score

Best for: People who carry a balance and want a lower interest rate for a small fee

The balance you carry
Less interest than a typical card, each year
$255
About $375 a year here, instead of $630 at 20.99%

Ranked #4 of 176 for low interest. See the list

See how we worked it out
Balance transfers
0.99% for 6 months
Then 12.49%
Annual fee
$30 a year
Apply now on Laurentian Bank’s site (opens in a new tab)
Earns no rewards
We may get paid if you apply through this link. It never changes our score.

Have this card?

Details from Laurentian Bank’s site. Banks can update terms at any time, so give them a quick look before you apply. Source

Is it for me? Interest Can I get it? Fees Similar cards
3 quick questions

Is it for me?

Do you carry a balance from month to month?

Do you have a balance on another card you’d like to move?

Do you want to earn rewards on your spending?

Answer the 3 questions to see if it fits.

From the numbers

The good and the bad

Stands out

  • Good: 0.99% on moved balances for 6 months A 2% fee to move them.
  • Good: 12.49% on purchases The usual rate is 20.99%.

Watch for

  • Watch for: Earns no rewards If you pay in full each month, a no fee cash back card gives you more.
  • Watch for: $30 a year
  • Watch for: 12.49% after the 6 months Whatever you haven’t paid off by then is charged the regular rate.

Worked out from the card’s rates and fees.

Show your work

What you’d pay in interest

On a balance of $3,000 that you carry for a year.

  • This card $375
    12.49% $3,000 carried all year
  • A typical card $630
    20.99% $3,000 carried all year

If you move a balance here

Moving $3,000 from a card charging 20.99%.

Fee to move it (2%)
$60
Interest here for 6 months
$15
Interest on the old card for 6 months
$315
You keep about
$240
Pay this a month to clear it before the 0.99% ends
$500
After 6 months, on anything left
12.49%

A late payment can end a promotional rate early. Simple yearly interest on a balance that stays the same. Banks charge interest monthly, so the real cost comes out a little higher.

Before you apply

Can I get it?

  • Age 18 or older 19 or older in BC, NB, NL, NS and the territories
  • Where you live Canada
  • Credit score No minimum on record Most banks don’t publish one, and we don’t guess.

Mr. Loonie’s tip A balance transfer only helps if the balance shrinks. Set up an automatic payment so it goes down every month.

What critics say

Other reviewers on this card

6.6
Fair
Expert Score How we score
  • Money.ca (opens in a new tab) Jun 2025
    4

    “If you carry a balance on your credit card, then yes – a low-fee credit card is definitely worth it. I would suggest reviewing some of the best no-fee alternatives before settling on the Laurentian Bank Visa Reduced Rate, but if your credit card bill is high enough, the $30 annual fee will be well spent.”

What cardholders say

Ratings from people with this card

No ratings yet. If you have this card, tell others what it’s like.

Applied and weren’t approved?

Fees and interest

What it costs

Annual fee
$30 a year
Purchase interest
12.49%
Cash advance interest
13.99%
Foreign currency fee
2.5%
All fees and rates

Fees

Extra cards
None
Cash advance fee
$3.50
Balance transfer fee
2%
Over-limit fee
None
Late payment fee
None
Source
Issuer page

Interest rates

Balance transfer interest
12.49%
Intro rate: balance transfers
0.99% for 6 months
Source
Issuer page

Read the card terms and conditions for the full terms.

Checked on Nov 8, 2026. Source

Before you decide

Similar cards

Purchase interest on each card. This card: 12.49%.

See all cards ranked by interest

Some of these links pay us when you apply, at no extra cost to you. Most don’t, and pay never changes our score. How we make money

Common questions

Questions people ask

What is the annual fee on the Laurentian Bank Visa Reduced Rate?

$30 a year.

Does it charge a foreign transaction fee?

Yes, 2.5% on purchases in other currencies.

What is the interest rate?

12.49% on purchases. Cash advances are 13.99%.

Does it have a balance transfer offer?

Yes, 0.99% for 6 months. The transfer fee is 2%. After that, the rate is 12.49%.

Rates, fees and offers come from the card issuers and change often. We work to keep this page accurate and current, but it may contain mistakes, so always check the issuer’s terms before you apply. This page is general information and isn’t financial advice.

Spot something wrong? We’ll check it with the bank. Suggest a correction

Card names, logos and trademarks belong to their owners. No issuer wrote, paid for or approved what we say about this card. Our scores and opinions are our own.

Mr. Loonie is independent and supported by affiliate links. We may earn a commission when you apply through some links, at no cost to you. How we make money

$255
less interest a year
Apply now on Laurentian Bank’s site (opens in a new tab)
Compare
Compare is full